Legal issues and news

Alan Kaufman, who will be sentenced in June, faces up to 60 years in prison.

The National Credit Union Administration issued only one prohibition order in March, barring a former branch manager of Greater Iowa Credit Union in Ames from working in the financial services industry.

In an enforcement action that could have reverberations across the sector, the Fed imposed tough penalties on a pair of Wyoming bankers who took confidential information to their new employer.

Visa and Mastercard are facing fresh opposition from U.S. retailers in a long-running legal fight over the fees merchants pay each time consumers swipe their credit or debit card at checkout.

With this sudden and swift shift that is generating thousands more digital payment transactions per day than even just a few months ago, the opportunities for fraud are rising exponentially, says the FIDO Alliance's Andrew Shikiar.

Even before digital transactions took off as a result of the pandemic, chargebacks were becoming more common, says Chargehound's Pallavi Kuppa-Apte.

The abrupt shutdown of retail a year ago led to a rise of digital shopping — and fraud. And the most tech-savvy consumers may be the most vulnerable, according to TransUnion data.

The abrupt shutdown of retail a year ago led to a rise of digital shopping — and fraud. And the most tech-savvy consumers may be the most vulnerable, according to TransUnion data.

Keeping up with new retail trends shouldn’t come at the cost of keeping personal information safe, says Bluefin's Ruston Miles.

Lawyers defending two men accused of defrauding banks into processing pot purchases said banks including Citigroup and Bank of America were happy to look the other way when customers used their credit and debit cards to buy marijuana online.

Michael Moeser, senior analyst at PaymentsSource, talks to Shai Cohen, senior vice president of global fraud solutions at TransUnion, about the rapid evolution of fraud in the digital era.

A former Federal Reserve employee admitted to illegally taking documents, including bank stress test data, after deciding to leave the board, U.S. prosecutors said Friday.

Federal Savings Bank, the Chicago bank that lent millions of dollars to Paul Manafort under its founder and former longtime CEO, has now sued the former Trump campaign chairman and his wife, seeking to foreclose upon his mansion in the Hamptons.

A new study from Black Kite outlines a variety of threats facing the industry and pinpoints the average cost of a breach at large and small institutions alike.

North Korea and other rogue actors present a whole new threat to transaction security, says Capco's Julien Bonnay and Bryce VanDiver.

Since romance frauds generate more than 10 times the money for scammers per event than other types of fraud, 2020 saw a substantial boost in the use of this tactic.

Forter is strengthening its e-commerce fraud protection service by integrating its authorization tool with a Capital One decisioning data product that will provide merchants with a direct connection to issuing banks to share Forter insights.

Banks need to adjust their money laundering protections to comply with tough new rules in the U.S., says Genpact's Manish Chopra.